Infogrames Completes Acquisition of Shiny Entertainment

INFOGRAMES COMPLETES ACQUISITION
OF SHINY ENTERTAINMENT

May 2, 2002

Acquisition gives Infogrames
exclusive license to ‘The Matrix’ Interactive Games

NEW YORK, May 2 — Global
interactive game publisher Infogrames, Inc. (Nasdaq: IFGM) today announced that
it has completed its acquisition of Shiny Entertainment from Interplay
Entertainment Corp.

Included in the purchase of the
Shiny development studio are the exclusive worldwide rights to develop and
publish interactive games based on sequels to the highly acclaimed Academy
Award-winning action thriller, "THE MATRIX." The games will be based on the
upcoming sequels, "THE MATRIX RELOADED" and "THE MATRIX REVOLUTIONS" from Warner
Bros. Pictures. In addition, under the terms of the transaction, Infogrames has
acquired the patent for Shiny’s Advanced Tessellation Technology, and exclusive
rights to other tools and assets associated with the development of "THE MATRIX"
games.

Infogrames had previously announced
this transaction on April 24, 2002.

New York-based Infogrames, Inc. is
one of the largest third-party publishers of interactive entertainment software
in the U.S. The Company develops video games for all consoles (Sony, Nintendo
and Microsoft), PCs, and Macintosh systems. Infogrames’ catalogue of more than
1,000 titles includes award-winning franchises such as Civilization®, Backyard
Sports(TM), Deer Hunter®, Driver(TM), RollerCoaster Tycoon®, Test Drive®, and
Unreal®, and key licenses including Warner Bros. Looney Tunes(TM), Nickelodeon’s
Blue’s Clues®, Dragon Ball Z®, Mission Impossible®, Terminator®,
Harley-Davidson®, Major League Baseball®, and the National Football League®,
among many others. The Company’s Humongous Entertainment and MacSoft labels are
leaders in children’s and Macintosh entertainment software, respectively.

Infogrames, Inc. is a majority-owned
subsidiary of France-based Infogrames Entertainment SA (IESA) (Euronext 5257), a
global publisher and distributor of video games for all platforms. In 2001, IESA
acquired Infogrames Interactive, Inc. (formerly Hasbro Interactive), including
its line of software based on well-known licenses such as MONOPOLY, Jeopardy®,
TONKA, and Atari®, which are published and distributed in the U.S. by Infogrames,
Inc. For more information, visit the Company’s Web site at
http://www.infogrames.com. 

Safe Harbor Statement

Certain statements contained in this
release are forward-looking statements (rather than historical facts) that are
subject to risks and uncertainties that could cause actual results to differ
materially from those described. With respect to such forward-looking
statements, the company seeks the protection afforded by the Private Securities
Litigation Reform Act of 1995 and other enabling legislation. Statements
contained herein with regard to the company’s business outlook and prospective
operating and financial results are based upon management’s expectations
regarding various factors, which may be beyond the company’s control. This
statement is not intended to identify each and every risk and uncertainty
inherent in the company’s business, and should be read in conjunction with the
company’s cautionary statements contained in its most recent filings with U.S.
and foreign regulatory authorities. Any forward-looking statement speaks only as
of the date on which such statement is made, and Infogrames, Inc. undertakes no
obligation to update any such statement to reflect new information, the
occurrence of future events or circumstances or otherwise. A number of important
factors could cause actual results to differ materially from those indicated by
the forward-looking statements, such as but not limited to a delay in the
release of the games in question and/or the performance of competitive product
in the marketplace.